Savings Goals in 3 ways

digital
digitalgurus
learning

#1

In Internet Banking, you can set a Savings Goal for your account, to give you a progress-meter as you get nearer and nearer to 100%.

To set this up, click on your account, select “Edit” and turn on Savings Goal. Add your amount and start saving!

Did you know you can also use a Savings Goal as a budgeting tool?

eg 1. I have a “food and entertainment” account that I put $150 into on payday. I have set a savings goal of $150 on this account. On payday it is 100%, and ‘fully topped up’ and as the fortnight runs, I can see the goal indicator going down and this gives me a quick idea of how far through my fortnightly budget I am. And yes, it is marmite toast for me tonight folks!

eg 2. I have an account with money set aside for car maintenance, where I want the balance to stay at least above $2000. I’ve set the goal as $2000 and the green progress bar is set to “achieved” as indicated by a green tick. I can instantly see if I am dipping into my $2000 when the green tick disappears and the progress bar starts to drop. Four new tyres needed? Sorted!

#tuesdaytipsfrommegan


#2

Please note the savings goal is not yet able to be set up or changed within the mobile app for total money accounts.
The savings goal is a fantastic idea and really works towards our mission statement of helping NZers be good with money.